H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release B.4.1 OF THE FEDERAL RESERVE SYSTEM March 8, 1956 WEEKLY AVERAGES OF MEMBER BANK RESERVES, RESERVE BANK CREDIT, AND RELATED ITEMS and STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS The weekly average of member bank reserves for the week ending March 7 $18,670 increased $74 million to million. Estimated required reserves increased $24 million; and estimated excess reserves increased $50 million to $487 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $262 $321 million, compared with million the week before. The principal changes supplying reserves were an increase of $83 million in Federal Reserve holdings of U. S. Government securities and a decrease of $8l million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were a decrease of $45 million in Federal Reserve float, and Increases of $22 million in money in circulation and $21 million in "other" deposits with Federal Reserve Banks. Total Reserve Bank credit increased $29 million. As of Wednesday, March 7, holdings of U. S. Government securities under repurchase agreement were $35 million higher than a week earlier and member bank borrowings were $19 million higher. Member bank reserves, Weekly averages of daily figures Reserve Bank credit, WWeeeekk eennddiinngg Change from week ending and related items MMaarr.. 77,, 11995566 Feb. 29, 1956 Mar. 9, 1955 (] [n millions of dollars) Reserve Bank credit: U. S. Government securities- -178 Bought outright--System account 23,426 + 42 + 92 Held under repurchase agreement 92 + 4l Acceptances—bought outright 15 « + 15 Loans, discounts, and advances-- Member bank borrowings 749 - 9 +378 -108 Other 1 •» — Float 835 - 45 + 46 Total Reserve Bank credit 25,118 + 29 +255 Gold stock 21,695 «• — - 22 Treasury currency outstanding 5,011 - 1 + 16 51,824 + 28 +239 Money in circulation 30,202 + 22 +383 Treasury cash holdings 783 - 10 - 45 Treasury deposits with F. R. Banks 46l - 81 - 87 Foreign deposits with F. R. Banks 360 + 6 - 4 Other deposits with F. R. Banks 327 + 21 -149 Other F. R. accounts (net) 1,023 - 2 T+ &68B 33,155 r-?5 Member bank reserves-- 18,670 T+ 724 X Required reserves (estimated) 18,183 +155 Excess reserves (estimated) 48? + 50 - 91 For Wednesday Federal Reserve figures see STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED - attached. Latest Wednesday figures for other items appearing above are, in millions of dollars: 21,696 Gold stock Treasury cash holdings 780 Treasury currency outstanding 5,011 Member bank) - Required (est.) 18,186 Money in circulation 30,223 reserves ) - Excess (est.) 332 On March 7# 1956, U. S. Government securities held in custody by the $3,816 Federal Reserve Banks for foreign account were million, an increase of $23 million for the week and an increase of $845 million from the comparable date Digitized afo r yFReAaSrE Ra go. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Change since Mar. 7, Feb. 29, Mar. 9, mi— 1956 1955 A S S E TS Gold certificates 20,166,353 + 10,002 11,751 Redemption fund for F. R. notes 848,236 : §432 il'Ml Total gold certificate reserves 21,014,509 + 3,467 F. R. notes of other Banks 311,438 - 18,965 + 105,955 Other cash 421,793 - 21,434 + 1,501 Discounts and advances 650,474 + 18,906 + 162,538 Industrial loans 694 1 + 219 Acceptances--bought outright 15,502 + 1,018 + 15,502 U. S. Government securities: Bought outright— Bills 538,200 - 345,044 Certificates 5,920,699 -4,039,442 Notes 14,165,913 +4,206,442 Bonds 2,801,750 Total bought outright 23,426,562 - 178,044 Held under repurchase agreement 90,700 34,800 + 90,700 Total U. S, Government securities 23,517,252 34,800 - 87,344 Total loans and securities 24,183,932 + 54,723 + 90,915 Due from foreign banks 22 Uncollected cash items 4,113,236 - 396,256 + 397,918 Bank premises 63.148 + 72 + 7,610 Other assets 139,067 + 10,765 533 TOTAL ASSETS 50T2¥7,225 - 367,558 + 586,603 L I A B I L I T I ES Federal Reserve notes 26,044,432 14,945 + 456,171 Deposits: 90,003 Member bank reserves 18,518,107 2,953 U. S. Treasurer—general account 451,960 101,596 - 48,178 Foreign 356,406 7,033 - 35,342 - 69,638 Other 347,286 - 156,111 Total deposits 197373,759 -a Deferred availability cash items 3,304,876 413,538 + 211,011 Other liabilities and accrued dividends 15,667 174 + 1,232 TOTAL LIABILITIES 49,038,734 - 375,599 + 512,303 C A P I T AL A C C O U N TS + 15,616 Capital paid in 309,087 318 Surplus (Section 7) 693,612 + 32,711 Surplus (Section 13b) 27,543 -M8 Other capital accounts 178,249 + 25,973 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,247,225 + 586,603 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 46.0% .3* Contingent liability on acceptances purchased 2,560 for foreign correspondents 39,146 10,145 850 Industrial loan commitments 2,435 9 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. MARCH 7, 1956 (Acceptances and securities held under repurchase agreement are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) Discounts and Industrial U. S. Government advances loans Acceptances securities Within 15 days 639,986 1 8,555 4,175,500 l6 days to 90 days 10,488 14 6,947 1,465,400 588 91 days to 1 year 13,860,764 Over 1 year to 5 years 91 1,587,127 Over 5 years to 10 years 1,013,614 Over 10 years 1.414,857 Total 650,474 694 15,502 23,517,262 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.l(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MARCH 7, 1956 Phila- Cleve- St. Minne- 11 Kansas San Total Boston New York delphia land Richmond Atlanta Chicago Louis apolis 11 City Dallas Francisco A S S E TS 1300,756 876,059 3561,656 352,661 842,768 667,328 Gold certificates 20,166,353 1010,391 5,297,448 1147,765 1798,687 869,479 2441,355 Redemption fund for F. R. notes 848,236 52,463 176,604 59,893 76,617 66,183 52,859 153,475 44,047 23,569 41,354 26,609 74,563 Total gold Certificate 1062,854 5,474,052 1207,658 1875,304 928,918 3715,131 913,526 376,230 884,122 2515,918 reserves 21,014,589 1366,939 693,937 F.R. notes of other Banks 311,438 11,128 75,136 26,554 15,287 24,074 75,780 21,997 8,965 5,671 4,741 14,383 27,722 Other cash 421,793 30,188 99,776 26,133 32,947 20,971 27,945 71,808 21,965 8,688 14,256 18,629 48,487 20,980 78,940 29,200 40,920 16,525 25,850 32,608 8,650 Discounts and advances 650,474 34,455 68,446 273,150 20,750 Industrial loans 694 63^ *— 57 Acceptances— Bought outright 15,502 15,502 U. S. Govt, securities: Bought outright— Bills 538,200 29,721 136,781 32,756 46,254 31,708 27,780 93,876 22,335 13,042 23,407 21,581 58,959 Certificates 5,920,699 326,965 1,504,716 360,345 508,843 348,812 305,615 1032,730 245,697 143,476 257,491 237,408 648,601 Notes 14,165,913 782,298 3,600,196 862,166 1217,461 834,571 731,216 2470,918 587,857 343,283 616,075 568,025 1551,847 165,062 144,621 488,701 116,267 67,895 306,926 Bonds 2,801,750 154,724 712,051 170,520 240,791 121,848 112,344 Total 23,426,562 1293,708 5,953,744 1425,787 2013,349 1380,153 1209,232 4086,225 972,156 567,696 1010,021 939,350 2566,333 Held under repurchase agreement 90,700 90,700 1293,708 567,696 1018,821 Total U. S, Govt, sees. 23,517,262 6,044,444 1425.787 2013,349 1380,153 1209,232 4086,225 972,156 939,358 2566,333 6,138,886 1250,152 988,681 2587,083 Total loans & securities 24,183,932 1314,688 1460,879 2081,795 1409,353 4359,375 593,603 1051,429 948,008 Due from foreign banks 22 1 1/6 2 2 1 13 1 1 11 2 Uncollected cash items 4,113,236 306,757 740,569 243,738 383,809 309,867 320,261 681,297 178,573 112,341 207,647 202,378 425,999 Bank premises 63,148 5,579 7,954 5,005 6,225 5,686 4,015 6,035 3,417 2,859 3,678 2,313 10,382 Other assets 139,067 7,280 33,714 8,091 12,009 8,033 7,994 25,404 5,516 3,232 5,785 6,888 15,121 TOTAL ASSETS 50.247,225 2738.475 12.570.093 2978.060 4407.378 3144,924 2615.066 8881.050 2120.644 1102.625 2171.659 1886.537 5630.714 1/ After deducting $16,000 participations of other Federal Reserve Banks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MARCH 7, 1956 ^Jfc.l(c) Phila- Cleve- Minne- Total Boston New York Richmond Atlanta apolis delphia land L I A B I L I T I ES 1550,597 5,937,078 1769,048 2420,822 1968,079 1317,469 5042,356 1204,701 515,408 1028,904 681,156 2608,8l4 Federal Reserve notes 26,044,432 31 Deposits: Member bank reserves 18,518,107 % fi,m 51,303 24,016 41,680 U.S.Treas.-gen. acct. 451,960 • ' • 17,952 15,488 49,280 13,376 8,800 13,376 17,952 36,985 Foreign 356,406 20,768 1/105,053 25,344 32,032 Other 347,286 4.534 263,365 9,048 1,492 4.357 2,809 1,434 7.682 873 9.660 1,078 40,954 844,015 5,757,928 918,951 1560,840 856,986 974,361 3131,321 727,342 466,379 927,100 969,444 2539,092 Total deposits 19,673,759 Deferred availability 270,889 535,033 202,935 314,728 255,321 267,032 532,226 140,446 88,774 166,797 175,173 355,522 cash items 3,304,876 Other liabilities and 818 4,438 827 1,841 745 747 2.747 515 585 -541 602 1,255. accrued dividends 15,667 2^66,319 12,234^477 2891,761 4298,231 3081,131 2559,609 8708,650 2073,004 1071,146 2123,348 1826,375 5504,683 TOTAL LIABILITIES 49,038,734 CAPITAL ACCOUNTS Capital paid in 309,087 16,276 90,966 19,991 29,772 14,066 14,087 41,693 10,752 6,990 12,556 16,932 35,006 S S u u r r p p l l u u s s ( ( S S e e c c t t i i o o n n 7 13 ) b ) 69 2 3 7, , 5 6 4 1 3 2 41 3 , , 6 0 6 11 7 19 7 5 , ,8 3 2 1 7 9 49 4 , , 4 4 9 8 1 9 62 1, ,5 0 6 0 3 6 35 3 , , 0 3 1 49 2 30,8 7 4 6 1 2 1 2 01 7 1 , , . 4 8 3 2 9 8 9 4 4 5 2 8 2 7 . 1 , 7 6 1 4 8 9 1 1 5 7 , , 0 , 8 7 5 3 8 3 0 6 8 1 2 , , 5 6 1 , 5 3 9 8 7 60 8 3 1 , , 3 0 3 , 7 0 8 6 4 7 1 7 7,6 1 2 7 0 , 1 1 , 4 27 0 5 Other capital accounts 178,249 11,202 41.504 12,328 15,806 11,366 9,767 TOTAL LIABILITIES AND 2738,475 12,570.093 2978,060 4407,378 3144.924 2615,066 8881.050 2120,644 1102,625 2171,659 1886.537 5630,714 CAPITAL ACCOUNTS 50.247,225 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis